Testing Stochastic Dominance Restrictions (in honour of the contribution of Professor Haim Levy)


Oliver Linton, Thierry Post


Yoon-Jae Whang, Harry Markowitz, Haim Levy, Valentino Dardanoni, Ian Crawford, Gordon Anderson, Victor Chernozhukov, Brian McCaig, Thierry Post, Timo Kuosmanen, Olivier Scaillet, Hendrik Klaver, James Huang, James Bodurtha

Date & Time

From: 4 November 2005
Until: 5 November 2005




The Institute for Fiscal Studies
7 Ridgmount Street,

Stochastic dominance gives a systematic framework for analyzing economic behavior under uncertainty. SD has seen considerable theoretical development and empirical application in the last decades, in various areas of economics. It is useful both for positive analysis (where the objective is to analyze the decision rules actually used by decision-makers) as well as in normative analysis (where the objective is to support practical decision making).

The theoretical attractiveness of SD lies in its nonparametric orientation: SD criteria do not require a full parametric specification of decision-maker preferences or the statistical distribution of the choice alternatives, but rather rely on general preference and distribution assumptions. Recent years have witnessed major theoretical developments, for example linking the existing SD rules to non-expected utility theories and formulating new SD rules. Furthermore, significant contributions have been made on tractable mathematical programming algorithms for implementing SD rules. Finally, there are many difficult statistical issues involved in estimation and testing for SD. Recently, there has been a substantial development of the methodology of and theory for constructing confidence intervals and hypothesis testing in various situations.

The objective of this symposium is to bring together researchers who work on SD problems in Economics, Econometrics, and Finance, so as to exchange new insights and promote collaboration within and across disciplines.

To reserve a place at this conference, please email Bonnie Brimstone

Harry Markowitz and Haim Levy
Conference Delegates
Harry Markowitz and Haim Levy

(please click on each image to enlarge)